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Nov 29, 2012
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speaker boehner's comments pushed the market lower. then other comments brought them back a little bit. the dow is up just 45 points right now at 13,030. the nasdaq also trading higher today. last i checked, it was up 21 points. there it is at 3,013. that's about the high for the session. the s&p is up about seven points at 1416. >> a bit of a roller coaster ride today after fiscal cliff comments from both parties. >> eamon javers on capitol hill is following the drama, which changes moment by moment. >> absolutely, bill. it's been a bit of a roller coaster ride, as you say, on capitol hill with duelling press conferences today. follow along with me here on what each person said from each party and how that impacted the market, starting with speaker john boehner. here's what he had to say early in the day. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the house and the house o
speaker boehner's comments pushed the market lower. then other comments brought them back a little bit. the dow is up just 45 points right now at 13,030. the nasdaq also trading higher today. last i checked, it was up 21 points. there it is at 3,013. that's about the high for the session. the s&p is up about seven points at 1416. >> a bit of a roller coaster ride today after fiscal cliff comments from both parties. >> eamon javers on capitol hill is following the drama, which...
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Dec 5, 2012
12/12
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boehner stepped in front of the microphone the day after the election and this market tanked. that's a clear signal to washington they better get it right. >> i think ben is right on the money. this is basically what is happening. there's an enormous amount of room for disappointment in this market. this market is expecting a deal. i don't know why all of the sudden today we get this triple-digit move as if something is happening. if we don't get a deal, how big of a sell-off can we see? >> well, we've seen the t.a.r.p. disappointment. we've seen the debt ceiling disappointment. i think if we go over the cliff, we're going to have a very big sell-off, then the politicians are going to go, hey, we're here to the rescue. >> what's fueling this optimism then? >> i think we have seen the idea that the market has voted to tell washington they need to get it right with the sell-offs we have seen. the anticipation is they want to get re-elected. they understand the republicans now have detectors. again, the market is saying we with believe in you. don't screw this up. >> all right. y
boehner stepped in front of the microphone the day after the election and this market tanked. that's a clear signal to washington they better get it right. >> i think ben is right on the money. this is basically what is happening. there's an enormous amount of room for disappointment in this market. this market is expecting a deal. i don't know why all of the sudden today we get this triple-digit move as if something is happening. if we don't get a deal, how big of a sell-off can we see?...
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Nov 29, 2012
11/12
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right after boehner's quote. he made some good points. republicans realizes taxes are going to go up, everyone realizes what's going to happen to rates. what we still don't know, what are the democrats proposing to really cut. put on the table, get it out there and let us know what it is. >> how volatile do you think this market is going to be the longer this goes? >> i think if you're the day trader type you absolutely trade it because you love volatility because that's how you're going to make money. if you're the long-term person, i don't think you chase it at all. i think you remain patient, stay on the bid side, let prices come to you because i think they will come to you. the longer this goes on the more frustrated this market is going to get. then it will start to make et cetera own own and we know what happens then. >> thank you, kenny. eggs and purgatory, tyler. that's the recipe of the day. i think it is quite apropos. >>> house speaker boehner voicing his disappointment over the state of the debt talks. so is there still a chan
right after boehner's quote. he made some good points. republicans realizes taxes are going to go up, everyone realizes what's going to happen to rates. what we still don't know, what are the democrats proposing to really cut. put on the table, get it out there and let us know what it is. >> how volatile do you think this market is going to be the longer this goes? >> i think if you're the day trader type you absolutely trade it because you love volatility because that's how you're...
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Dec 5, 2012
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boehner. boehner that low? >> it's remarkable. there is some subjectivity that goes with this but i think that's very interesting. the other folks that you mentioned. bloomberg fascinates me. >> bloomberg more power than bainer? really? >> i don't know about more power but think about the interesting position that bloomberg's in. he's got a year left on this third term that he has figured out a way to have. he's a publisher. he's a 15th richest guy -- most powerful guy on our list, one of the richest men in the world. >> and a quick thought on ilan musk -- we've heard his name but he doesn't get a lot of attention. why is he in the top 70? >> when you think about the entrepreneurial ethos that forbes tries to represent, the people, places and companies that we try to describe an entrepreneurs in particular, here's a guy who founded paypal. here's a guy who's at the front of the tesla automobile. he's now moving cargo through space. filling the void that nasa has left. >> it's like watch what he does zblep's going to be the railroa
boehner. boehner that low? >> it's remarkable. there is some subjectivity that goes with this but i think that's very interesting. the other folks that you mentioned. bloomberg fascinates me. >> bloomberg more power than bainer? really? >> i don't know about more power but think about the interesting position that bloomberg's in. he's got a year left on this third term that he has figured out a way to have. he's a publisher. he's a 15th richest guy -- most powerful guy on our...
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Dec 6, 2012
12/12
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boehner i think is trying to rise above partisanship and get a deal. i think he's been very valiant. but sit going to take a toll on the gop internally? >> larry, i was at a very prominent conservative meeting in washington today, and you know who showed up? a congressman from kansas. he was booted off of his committee earlier today and he was very angry talking to conservative activists. here's why conservatives are angry. as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple dozen republican house members signed a bipartisan letter that says let's look at all kinds of tax rates, not just the deduction, but tax rates in r
boehner i think is trying to rise above partisanship and get a deal. i think he's been very valiant. but sit going to take a toll on the gop internally? >> larry, i was at a very prominent conservative meeting in washington today, and you know who showed up? a congressman from kansas. he was booted off of his committee earlier today and he was very angry talking to conservative activists. here's why conservatives are angry. as this fiscal cliff negotiations continues, they think boehner...
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Nov 29, 2012
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obama/boehner comments about a possible agreement. geithner with congressional leaders would set up any kind of good news for a euro to push through that 1.30 level. >> what are your levels? >> i like to go long. actually, i just bought euro literally in my hand held before i sat down at 1.29.70. you want to look for a push through that november triple top high over 1.30. we could target the 1.30, 1.40, the high from october. traditionally in the technical analysis world we have a triple top setting up. those do not hold. i like the trade up towards a test of that october high. >> i'm surprised you don't think the yen is a better trade at the moment. there's a lot of chatter everywhere else about it. >> it's a great point, simon. you know, the boj is doing everything they can to end their 13, 15-year deflationary cycle. my thought on that is you don't get hit by the train you see coming. i feel like the market is so focused on the short yen trade, i think it could work in the short term. you could pair a euro long like i'm talking abo
obama/boehner comments about a possible agreement. geithner with congressional leaders would set up any kind of good news for a euro to push through that 1.30 level. >> what are your levels? >> i like to go long. actually, i just bought euro literally in my hand held before i sat down at 1.29.70. you want to look for a push through that november triple top high over 1.30. we could target the 1.30, 1.40, the high from october. traditionally in the technical analysis world we have a...
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Dec 5, 2012
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the republicans have offered substantial -- boehner has offered substantial tax increase, $800 billion, actually, but he believes it can be done by closing loopholes without raising the rates, which would be better for the economy. i don't believe we need to raise taxes. we can bring this government under control through spending reductions. certainly, if taxes are raised, they should be done in a way that's most beneficial or least damaging to the viability of our economy. >> yeah. i got to tell you, after listening to that interview, i feel pretty confident that we're going over the cliff. are we going to go over the cliff, senator? >> we should not go over the cliff. we should have been working on this all year, not waiting until the last minute. the reason we're not making progress, let me tell you -- and i've been consistent on this. they're bringing these numbers up in secret. if they were laid out in public so the american people knew just how much taxes they were increasing, just how little spending reductions -- or how much increases in spending. as a political mover, very eff
the republicans have offered substantial -- boehner has offered substantial tax increase, $800 billion, actually, but he believes it can be done by closing loopholes without raising the rates, which would be better for the economy. i don't believe we need to raise taxes. we can bring this government under control through spending reductions. certainly, if taxes are raised, they should be done in a way that's most beneficial or least damaging to the viability of our economy. >> yeah. i got...
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Dec 5, 2012
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finally the treasury secretary said the proposal from speaker boehner did represent some progress. >> i think we're making a little bit of progress. i mean, we're still some distance apart. they're clearly moving. they're trying to figure out how to move further. you've seen them acknowledge they're prepared to do $800 billion in higher taxes on part of the american economy. that's part of a balanced framework. that's definitely some progress. what we need to have them acknowledge is that the rates go up and if they're willing to accept that and commit to that as an agreement, then we think we can do something really good for the economy. >> what you have here is really the administration laying out the parameters of getting a deal done. it's going to be tax hikes on the wealthiest 2% going back to the bush tax cuts, although there was a little play in the idea. it didn't have to be 39.6%. he didn't say that had to happen, but he says he thinks that's the best way for a deal to get done to raise the money they need. and a deal on the debt ceiling. so, guys, i'm not sure where we are o
finally the treasury secretary said the proposal from speaker boehner did represent some progress. >> i think we're making a little bit of progress. i mean, we're still some distance apart. they're clearly moving. they're trying to figure out how to move further. you've seen them acknowledge they're prepared to do $800 billion in higher taxes on part of the american economy. that's part of a balanced framework. that's definitely some progress. what we need to have them acknowledge is that...
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Nov 29, 2012
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and you see boehner coming out -- boehner, by the way, just walked past us and gave us a big smile just a few seconds before we came on the air. he's clearly not all that upset. he seems like he's in a pretty good mood here today. so boehner is saying no. i don't like that offer. now harry reid is coming out and say wk hey, wait a second. it's time for you guys to get serious. when harry reid says it's time to listen to the american people, what he's saying is, look at the poll numbers. this thing polls much better for us than it polls for you. you're getting clobbered here, republicans. pay attention. so that's the message that's going on. you're seeing a lot of horse trading. yeah, if you're a player in the market right now, it's got to feel like you're being held hostage to this horse trading in washington. that's the way they've done it here for a couple hundred years in this town. i think that's the way they'll continue doing it up to the edge of the deadline on the fiscal cliff. >> you get any sense as you talk to the folks making these comments that they even care what the stock
and you see boehner coming out -- boehner, by the way, just walked past us and gave us a big smile just a few seconds before we came on the air. he's clearly not all that upset. he seems like he's in a pretty good mood here today. so boehner is saying no. i don't like that offer. now harry reid is coming out and say wk hey, wait a second. it's time for you guys to get serious. when harry reid says it's time to listen to the american people, what he's saying is, look at the poll numbers. this...
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Dec 6, 2012
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more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive, cincinnati versus here, she would see like ten cars an and go oh, i can't believe people -- if she had
more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get...
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Dec 3, 2012
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house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff at some point in these negotiations. is it a terminal standoff? when does somebody blink? >> it's not a matter of who will blink or not. i think that the republicans are trying to go tit for tat with the president. you have to realize that the president has the bully pulpit and the ability to command media. so the republicans feel the need to respond to every maneuver. i think frankly that the president's put a detailed plan on the table. republicans need to respond to that detailed plan and then they need to get in the weeds. i'm still optimistic that we'll get something do
house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff...
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Nov 30, 2012
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we still have public posturing politically from speaker boehner and the president. do you make anything of that? is the market becoming immune to the public outcry or what? >> you know, i don't know about the public outcry issue, but i can tell you this. it doesn't surprise me that on a friday the stock market would pay less attention to the tape bombs than other days because of the weekend and the issues of trading and any surprises that come up. i would doubt if you're going to even see much movement in the last hour. treasuries, on the other hand -- well, actually, they're very similar. but where you start to see something different is as our guest was talking about. move outside of treasuries. if you look at barclays, whether it's their high-yield index or investment index, they're not at their best levels, but they've been big movers. the biggest issue is the taxes surrounding munis. that was started in '07. all-time new highs today. even if you look at the lipper or barclay indices, it reflects the same thing. in a way, it's sad. in a way, it isn't. it undersc
we still have public posturing politically from speaker boehner and the president. do you make anything of that? is the market becoming immune to the public outcry or what? >> you know, i don't know about the public outcry issue, but i can tell you this. it doesn't surprise me that on a friday the stock market would pay less attention to the tape bombs than other days because of the weekend and the issues of trading and any surprises that come up. i would doubt if you're going to even see...
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Dec 5, 2012
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. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. boehner started doing it. did you see they removed two tea party members from the budget committee? >> i don't want to raise taxes to fund 25% of gdp. >> and actually, the american taxpayers are being told to pay their fair share. they want to see real entitlement reform as well. but you have to deal with the issue on the table. i mean, the spending right now is a percentage of gdp is 24%. it's projected to go substantially higher. do you know that medicare and medicaid didn't exist 50 years ago and they're now a quarter of the federal budget? >> i know. it was supposed to be supplemental. david walker was on the other day talking about obama care which is supposed to save us a trillion dollars and the actual cost, what it added the our entitlement is 12 trillion. just that we did in the last two years. or whenever it was. >> but in terms of where we are now in this negotiation, i believe that both sides in the final ana
. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. boehner started doing it. did you see they removed two tea party members from the budget committee? >> i don't want to raise taxes to fund 25% of gdp. >> and actually, the american taxpayers are being told to pay their fair share. they want to see real entitlement reform as well. but you have to deal with the issue on the table. i mean, the...
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Dec 7, 2012
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boehner came out and said we should raise taxes. >> i think boehner is doing the best he can to prevent marginal tax rates from rising. i think that's a very noble cause after conservatives and republicans lost in the last election. i think boehner's done the exact right thing. >> i've heard you make the bold case for conservatism on this show. we should advocate for what worked with ronald reagan. guess what? our economy took off. we got 20 million jobs and youth unemployment dropped 43%. and revenues doubled. >> that's not the issue. >> yes, it is. >> that's not john boehner's issue. john boehner didn't lose the presidency, my friend. and don't forget that. and by the way, conservatives did not win the presidency and conservatives did not win the senate. it was a lousy year. and you have to deal with that. and let me add one thing. i am a flat tax supply sider and i worked for ronald reagan. reagan compromised. he compromised in 1982 over a lousy deal which he regretted. he compromised in 1983 over a very good social security fix. and then he compromised again in 1986 over a very good
boehner came out and said we should raise taxes. >> i think boehner is doing the best he can to prevent marginal tax rates from rising. i think that's a very noble cause after conservatives and republicans lost in the last election. i think boehner's done the exact right thing. >> i've heard you make the bold case for conservatism on this show. we should advocate for what worked with ronald reagan. guess what? our economy took off. we got 20 million jobs and youth unemployment...
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Dec 4, 2012
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john boehner, the speaker of the house, sent a message that a deal was in the works. he threw several house members off of key committees when they criticized him openly for looking like he was ready to make some deal on taxes with president obama. that's a sign to me that he's going to clear the decks to try to push through a deal. it's a sign that we're going get some kind of tax increases for the top 2%. i don't know where those numbers are going to be. pretty clear to me that a deal is in the works and we're heading in that direction. what i'm not sure of is whether the market will go up on this, necessarily. >> in terms of that january effect, bob, does that even matter this year? >> yes, look, it's not long from anybody, january and february are the best months of the year. that's a factor. >> let me ask you about putting money to work, keith springer. you say we're going to get a deal regardless. we may get a deal regardless, but that deal means probably higher taxes and lower spending. what are the areas in the economy in your view that get impacted most by a
john boehner, the speaker of the house, sent a message that a deal was in the works. he threw several house members off of key committees when they criticized him openly for looking like he was ready to make some deal on taxes with president obama. that's a sign to me that he's going to clear the decks to try to push through a deal. it's a sign that we're going get some kind of tax increases for the top 2%. i don't know where those numbers are going to be. pretty clear to me that a deal is in...
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Dec 6, 2012
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. >> john boehner and president obama speaking by phone, but no announcement of any upcoming face to face budget talks. earlier the president told the business round table that a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. and in an interview on cnbc, timothy geithner says the gop is making a little bit of practice, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> our obligation is first do no harl. we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be more cracks in the ranks. "washington post" reports some moderate an
. >> john boehner and president obama speaking by phone, but no announcement of any upcoming face to face budget talks. earlier the president told the business round table that a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. and in an interview on cnbc, timothy geithner says the gop is making a little bit of practice, but the white house is absolutely ready to go over the cliff if tax rates on the top 2%...
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Dec 3, 2012
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and boehner i think is under even more enormous pressure because a lot of people see boehner if the house as the last best hope for a voiding what a lot of people think is a calamity. >> but leadership isn't calling the other side names. i think when you talk about the big four, boehner, reid, pelosi -- >> no, not them. >> obama is on the legislative branch. we have to give him a break on that. but there are four big people. those four people couldn't be more inept. >> it's boehner -- the mcconnell and pelosi and reid have nothing to do with what's going on between boehner and obama. >> to some extent that's true. >> reid is the guy that pushed obama to extend the bush tax rates in 2010. so reid would i suspect -- >> i'm starting to like him more. i thought of him as senator pat geary from godfather 2. but everybody loves harry. there's a song everybody loves harry. anybodies that that has anything to do with casinos loves harry. just a quick question. you were a big cap guy for a long time. now dividends rates where going up. are you still a big cap guy? i've been a small cap guy. i'll t
and boehner i think is under even more enormous pressure because a lot of people see boehner if the house as the last best hope for a voiding what a lot of people think is a calamity. >> but leadership isn't calling the other side names. i think when you talk about the big four, boehner, reid, pelosi -- >> no, not them. >> obama is on the legislative branch. we have to give him a break on that. but there are four big people. those four people couldn't be more inept. >>...
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john boehner is really the only republican power in town. so a lot of people think that he's going to have to move toward the president. right now, he's showing absolutely no signs of that. but public opinion is definitely in the president's side. >> the president seems to be counting on here that if no deal is reached, the gop will get the blame from voters. is that the right calculation to make? >> absolutely. polls show that republicans would overwhelmingly be blamed if the united states goes over the proverbial fiscal cliff. and that's why president obama has an advantage, because he's willing -- he says, this is what he and his advisers say, he's willing to send the nation off of the fiscal cliff, letting all income tax rates to jump, spending cuts to take hold, investment income rates to jump. he's willing to do that. he thinks republicans would get the political blame. republicans, on the other hand, note that listen, the president's going to have to have another term where he's dealing with what's likely to be a deep recession as a r
john boehner is really the only republican power in town. so a lot of people think that he's going to have to move toward the president. right now, he's showing absolutely no signs of that. but public opinion is definitely in the president's side. >> the president seems to be counting on here that if no deal is reached, the gop will get the blame from voters. is that the right calculation to make? >> absolutely. polls show that republicans would overwhelmingly be blamed if the...
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Dec 7, 2012
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speaker boehner is about to speak. here he is. >> when it comes to the fiscal cliff that's threatening our economy and our jobs, the white house has wasted another week. you know, eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase in the debt limit like forever. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion-dollar deficits for as far as the eye can see. listen. washington's got a spending probl
speaker boehner is about to speak. here he is. >> when it comes to the fiscal cliff that's threatening our economy and our jobs, the white house has wasted another week. you know, eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase in the debt limit like forever. four days ago we offered a serious proposal based on testimony of...
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Nov 30, 2012
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i think the response by boehner was appropriate. disappointment and totally unrealistic. >> you made it very clear that -- guy said -- you walked away from the talks. no, no, no, no. he said no. >> they have to give a numbers -- do the republicans have -- >> no, no, no. >> it is still -- up to obama -- >> they are so far off the mark. a lot of the comments -- you shouldn't be following it day by day because it is ridiculous. i mean, there's bluffing, will's posturing. so this isn't serious. i mean, if you were in a business deal you wouldn't be going public with this stuff. i mean, the conversation would be more serious. and you would be closer. they show that deal. >> i don't even understand how we get to what you just talked about which is close to simpson-bowles from where we are right now. i mean -- i understand that that might the best thing for the country. based on where the talks have gone to this point -- >> remember, last summer, they got close to simpson-bowles. when the deal broke apart. >> we are a lot farther away from
i think the response by boehner was appropriate. disappointment and totally unrealistic. >> you made it very clear that -- guy said -- you walked away from the talks. no, no, no, no. he said no. >> they have to give a numbers -- do the republicans have -- >> no, no, no. >> it is still -- up to obama -- >> they are so far off the mark. a lot of the comments -- you shouldn't be following it day by day because it is ridiculous. i mean, there's bluffing, will's...
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. >>> meantime, house speaker boehner and president obama speaking on the phone last night about the fiscal cliff. there still seems to be a freeze in the negotiation. >> there's nothing going on privately that's not going on the publicly. >> they've got to come with some specific revenue. they have refused to do that. >> we need that consensual break through. >> although the president seems obsessed on raising taxes for you. >> that is a bad strategy for america, it's a bad strategy for your businesses and it is not a game that i will play. >> is the administration prepared too go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the wealthiest 2%. remember it's only 2%. >> with just 25 days to go, the political satandoff could cost the u.s. millions of jobs. professor, good to have you back, good morning. >> good to be here, thanks. >> good read in the journal yesterday from you and if anybody needed to worry about this more, you invoke carter, you're talking about 1980. kind of scenarios if in fact we go over
. >>> meantime, house speaker boehner and president obama speaking on the phone last night about the fiscal cliff. there still seems to be a freeze in the negotiation. >> there's nothing going on privately that's not going on the publicly. >> they've got to come with some specific revenue. they have refused to do that. >> we need that consensual break through. >> although the president seems obsessed on raising taxes for you. >> that is a bad strategy for...
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and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal cliff. but speaking with reporters in bangkok, he says the a
and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal...
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our next guest met with john boehner on capitol hill yesterday. tom wilson is the ceo of the insurance giant allstate. i see in your preinterview notes you've got some good news, but the way you say it, i'm concerned about where we are. let me start with the good news which moons that there's some bad news. what do you mean? >> sure. i am concerned. the good news is -- and we met with the democrats who control the snachlt we met the republicans who control the house, the white house economic team. so we saw all sides of this. the good news is we all agree this is an opportunity to show the rest of the world we know how to run our house economically. they all want to make a deal, three, they all agree it's a $4 trillion number and four, they all agree -- there's three kmoents. we've got reform entitlement, raise revenue and reduce spending. so those are all the good things. you want to know the bad news. >> yeah, i guess. >> yeah. okay. so the bad news is nobody's really decided how much of that $4 trillion goes into each of the three buckets. so r
our next guest met with john boehner on capitol hill yesterday. tom wilson is the ceo of the insurance giant allstate. i see in your preinterview notes you've got some good news, but the way you say it, i'm concerned about where we are. let me start with the good news which moons that there's some bad news. what do you mean? >> sure. i am concerned. the good news is -- and we met with the democrats who control the snachlt we met the republicans who control the house, the white house...
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but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates. as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter. and the two men have not moved from that basic position. now, all of this comes at the same time treasury secretary geithner also said for the first time the administration would be willing to go over the fiscal cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all those americans, too, get a tax cut on the first $250,000 of their
but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates. as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter....
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. >> john boehner made a point at expressing dismay the president hasn't responded two days after the republicans sent him a fiscal cliff counteroffer. >> if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. >> by trying to keep gop frustration on the president, boehner appears to be keeping conservative lawmakers off his own back for now. >> what's mood inside the conference. >> very united, very supportive with the speaker. >> multiple sources tell cnn in a private meeting with house republicans, boehner got no flow back for producing $800 billion in tax revenue, despite backlash from conservative groups outside congress. >> any complaints about this new revenue? >> i didn't hear anything. >> the speaker has full support of the conference to move forward and get something done for the american people. >> so far, rank and time republicans are allowing boehner to play out this showdown, trying to look reasonable while the president is intransigent. especially si
. >> john boehner made a point at expressing dismay the president hasn't responded two days after the republicans sent him a fiscal cliff counteroffer. >> if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. >> by trying to keep gop frustration on the president, boehner appears to be keeping conservative lawmakers off his own back for now. >>...
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two days after the election, boehner came up with a tax revenue plan. very controversial in his party. he said, let's cap deductions and loopholes and leave the race alone because that help growth. that was $800 billion. it shocked a lot of republicans. and he got nothing. he got, you know, nothing from obama. and i think that started the bad blood. and i think the president -- >> good point. they both got to learn the art of negotiation. >> we haven't heard from democrats in the senate. i'm going to guarantee you that the democrats in the senate are going to be split on this business of who's rich and what the right tax rates are going to be. >> i have to leave it there, chaps. nick, larry, thank you both much, indeed. >>> coming up next, kerry kennedy joins me about fame, politics and most important of all, taylor swift. like a lot of things, trying to find a better job can be frustrating. so at university of phoenix we're working with a growing list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - t
two days after the election, boehner came up with a tax revenue plan. very controversial in his party. he said, let's cap deductions and loopholes and leave the race alone because that help growth. that was $800 billion. it shocked a lot of republicans. and he got nothing. he got, you know, nothing from obama. and i think that started the bad blood. and i think the president -- >> good point. they both got to learn the art of negotiation. >> we haven't heard from democrats in the...
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even though president obama and john boehner chatted by phone, there's no deal. republicans are not amused. >> incredibly many top democrats including the president seem perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two sides will make a deal and have moved to plan b. a retired teacher in utah has put off plans to get a new car. brian chandler, a data manager in atlanta is delaying buying a house despite needing space for a second kid due any day now and several families are shrinking the gift pile beneath the christmas tree this year. how about you? are you prepared if the nation goes off the fiscal cliff? facebook.com/carolcnn. facebook.com/carolcnn. your responses later this hour. >>> it's going to take massive amount of money to help the northeast recover from sandy. some $36 billion in new jersey alone. and now it's governor chris christie pushing the federal government to pick up 100% of that cost. if you are one of the m
even though president obama and john boehner chatted by phone, there's no deal. republicans are not amused. >> incredibly many top democrats including the president seem perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two sides will make a deal and have moved to plan b. a retired teacher in utah has put off plans to get a new car. brian chandler, a...
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does john boehner have more control? >> they think obama can get anything through the house of representatives. but everything that has happened since the election all of the moves in the republican caucus have been about boehner consolidating control over that tea party caucus that didn't allow boehner to get a deal in 2011. >> there will be some criticism about it being two people at the table. will they get a deal done? >> i think there's some criticism from republicans about secret negotiations. i hate to break to to people in washington, but all negotiations over policy are secret in washington. that's how legislation gets done. you have to be in a room with negotiators to cut a deal. i wouldn't fret. >> they get criticized for not talking to each other and criticized for how to talk to each other. king maker, leaving before his term is up. says he could be more effective outside of the senate. what are they making of this in washington? >> a lot of people say the allure of a think tank with a big salary. >> more th
does john boehner have more control? >> they think obama can get anything through the house of representatives. but everything that has happened since the election all of the moves in the republican caucus have been about boehner consolidating control over that tea party caucus that didn't allow boehner to get a deal in 2011. >> there will be some criticism about it being two people at the table. will they get a deal done? >> i think there's some criticism from republicans...
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these negotiations are between two men, house speaker john boehner and the president. and once those two men agree, then they will take it to their folks. >> all right. kate balduan, live in washington. thank you. >> thanks, guys. >>> all right, recreational pot is now legal in washington state under a new law which took effect at midnight. adults can possess up to an ounce of marijuana legally. it's still against the law to grow pot or to sell it. but those celebrating the new normal are accentuating the positive. >> it's amazing. i'm not a criminal anymore. i can't go to jail for small amounts of marijuana, you know? it's -- i'm free to be free. >> the new law doesn't allow smoking in public places, just like alcohol, but police in seattle and across the state made an exception for overnight celebrations to ring in this new law. >>> so it's another public relations problem for penn state. the school's kai omega sorority is under investigation for stereotype i stereotyping latinos. pictures showed the sorority members in somberos with fake mustaches with signs that sa
these negotiations are between two men, house speaker john boehner and the president. and once those two men agree, then they will take it to their folks. >> all right. kate balduan, live in washington. thank you. >> thanks, guys. >>> all right, recreational pot is now legal in washington state under a new law which took effect at midnight. adults can possess up to an ounce of marijuana legally. it's still against the law to grow pot or to sell it. but those celebrating the...
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the president and the house speaker john boehner finally spoke yesterday by phone. they have both agreed to keep the details of the discussion under wraps. they're both standing firm on the tax hike, their positions on the tax hikes for the top 2%. listen. >> the revenues we're putting on the table are going to come from, guess who? the rich. >> once republicans acknowledge that rates are going up for top earners, we believe that an agreement is very achievable. >> kate balduan is in washington, d.c., this morning. so that's kind of a depressing thing, when just the advent of a phone conversation between the two top dealmakers is the headline, isn't it? >> i could not agree with you more. the fact that they spoke, but the fact that there's no progress, and that's a headline. i mean, if we want to take anything from it, any significance, it's the first time they've talked in a week. take that what you will. it's almost like hope springs eternal, but we are a long way from a deal still. neither side, as you said is giving on their basic position. president obama conti
the president and the house speaker john boehner finally spoke yesterday by phone. they have both agreed to keep the details of the discussion under wraps. they're both standing firm on the tax hike, their positions on the tax hikes for the top 2%. listen. >> the revenues we're putting on the table are going to come from, guess who? the rich. >> once republicans acknowledge that rates are going up for top earners, we believe that an agreement is very achievable. >> kate...
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>> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you ready to compromise as far as taxes are concerned? >> how we go about tax reform, there's a lot of room to work together to lower the rates. >> give me an example? >> i'm not sure where the democrats are because they have not offered a plan. >> their plan is to keep the bush tax rates from 2001, 2003 forever. make them permanent. top 2% let them go from 35% to 39.6%. >> it's incredible we're even talking about it because it doesn't solve the problem. >> it's a beginning. >> it runs the government for five or six days. >> but it's a beginning. a billion here, a billion there winds up being
>> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you...
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yesterday, john boehner moved the markets higher. it was joyful talk about a possible deal, but today, it was like a break-up over tax. he went from love to disgust. here he is right after tim geithner put that deal on the table. >> no progress has been made in the talks between the white house and the house over the last two weeks. >> all right. that's pretty grim. stocks lost early games on that news and the day went downhill. harry reid slapped back. >> still waiting for a serious offer from the republicans. >> so, they agree on something. no progress. but then it actually went beyond that. reid got a little personal. >> i don't understand his brain so you should ask him, okay? >> funny, but really not so funny. so what happens when the men in charge start throwing sand in the sand box? we just go over the cliff like some are now suggesting? recall what err skine bowles said two weeks ago. >> i think that's crazy. you know, why would you bet the country? really bet the country by going over this fiscal cliff. >> crazy? betting the
yesterday, john boehner moved the markets higher. it was joyful talk about a possible deal, but today, it was like a break-up over tax. he went from love to disgust. here he is right after tim geithner put that deal on the table. >> no progress has been made in the talks between the white house and the house over the last two weeks. >> all right. that's pretty grim. stocks lost early games on that news and the day went downhill. harry reid slapped back. >> still waiting for a...
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we know from sources that the president and speaker boehner did speak yesterday. but i want to point this out, as we're all trying to read the tea leaves on progress, is there progress, is there not progress, we have had no public evidence of progress for sure to date. and my colleague, jessica yellin, got an important note from a source said in the call the president stressed to boehner that rates were going up on the wealthy, and there was no deal without it. that is a major sticking point, ashleigh. you know that. has been all along. and i'll tell you, there's no indication from republicans right now they're moving off their position. they don't think that's the right path to go. they're sticking to their guns so far. as you can see, as we've been saying all along, it appears and we'll see what comes out of these meetings, both sides are staring each other down and doesn't look like they're off the starting blocks yet. >> i have a son in kindergarten, and his teacher is very good at negotiating people who are intransie intransient, maybe they should call her. k
we know from sources that the president and speaker boehner did speak yesterday. but i want to point this out, as we're all trying to read the tea leaves on progress, is there progress, is there not progress, we have had no public evidence of progress for sure to date. and my colleague, jessica yellin, got an important note from a source said in the call the president stressed to boehner that rates were going up on the wealthy, and there was no deal without it. that is a major sticking point,...
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boehner says the entire proposal represented three weeks of wasted time. >> i was just flabbergasted. i looked at him and said you can't be serious. >> reporter: the house speaker says republicans have put increased revenues, including efforts to close tax loopholes and reform the tax code, on the table instead of raising tax rates for anyone. >> the fact is if there's another way to get revenue from upper income americans that doesn't hurt our economy, then would wouldn't he consider it? >> reporter: that's are publicly unchanged position was a deadline that's set. whether political theater or political reality, there's more mention going over the fiscal cliff could go beyond hypothetical. >> there's clearly a chance. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then, you know, that's the choice they're going to have to make. >> emily joins us live from washington. emily, the zinger sound bit
boehner says the entire proposal represented three weeks of wasted time. >> i was just flabbergasted. i looked at him and said you can't be serious. >> reporter: the house speaker says republicans have put increased revenues, including efforts to close tax loopholes and reform the tax code, on the table instead of raising tax rates for anyone. >> the fact is if there's another way to get revenue from upper income americans that doesn't hurt our economy, then would wouldn't he...
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what john boehner had that had so much impact, coming up. to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> good morning to you. welcome back. 24 minutes past the hour. christine is minding our business. >> i am. stock futures are up.
what john boehner had that had so much impact, coming up. to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. i have obligations. cute tobligations, but obligations.g. i need to rethink the...
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john boehner, again, speaker, said we're at a stalemate. is that how you would describe where things are? >> i think we're far apart still, but i think we're moving closer together. again, remember -- >> where are you closer? >> the republicans have said for the first time in decades, if i'm not mistaken, the leaders of the republican party, that they are prepared to raise taxes as part of a deal that helps reduce our long term deficit. what they haven't said is how far they're willing to go on rates and revenues, and that's what we need to see from them. >> they said no increased rates. >> but that's -- but they know this. there's not going to be an agreement without rates going up. there's not -- >> you'll go off the fiscal cliff if the republicans say, sorry, no way are we going to raise rates for the -- on the wealthy. you guys are willing to go off -- >> if republicans are not willing to let rates go back up and we think they should go back to the clinton levels, the time when the american economy was doing exceptionally well, there wi
john boehner, again, speaker, said we're at a stalemate. is that how you would describe where things are? >> i think we're far apart still, but i think we're moving closer together. again, remember -- >> where are you closer? >> the republicans have said for the first time in decades, if i'm not mistaken, the leaders of the republican party, that they are prepared to raise taxes as part of a deal that helps reduce our long term deficit. what they haven't said is how far...
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senator mitchell, you more or less have been in john boehner's shoes. you were a congressional leader hammering out a tax and spending cut deal with the president of the opposing party. how is what we're seeing now different than what you experienced two decades ago? >> it's similar in terms of the issues, the positions of the parties have been that way for a long time. it's different in several respects. first, when i was there, it was the president who had made the no tax pledge. president bush the first, as you'll recall, made a very famous no tax pledge which he eventually backed off of. in this case, it's the congress. the republicans in the congress specifically, who have made the tax pledge, and the president who is trying to get them to break it. secondly, the numbers are very much reflecting the passage of time. we were very concerned because we thought the budget was going to be -- the deficit was going to be about $150 billion. that shocked everyone into action. then, unlike now, there remains some degree of bipartisanship. there was comity,
senator mitchell, you more or less have been in john boehner's shoes. you were a congressional leader hammering out a tax and spending cut deal with the president of the opposing party. how is what we're seeing now different than what you experienced two decades ago? >> it's similar in terms of the issues, the positions of the parties have been that way for a long time. it's different in several respects. first, when i was there, it was the president who had made the no tax pledge....
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john boehner versus the president of the united states. and we want to just look at the sound bites from today and talk about how much of this is posturing and how much of this is sort of revealing a bottom line. let's listen. >> when i came out the day after the election and make it clear that republicans will put revenue on the table, i took a great risk. and then the white house spends three weeks trying to develop a proposal. and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not even $400 billion in cuts, and they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean, it was not a serious proposal. and so right now we're almost nowhere. >> -- this should come as a surprise to anybody. we had debates about it, a lot of tv commercials about it. and at the end of the day a clear majority of americans, democrats, republicans, independents, they agreed with a balanced approach to deficit reduction and making sure that middle class taxes don't go up. f
john boehner versus the president of the united states. and we want to just look at the sound bites from today and talk about how much of this is posturing and how much of this is sort of revealing a bottom line. let's listen. >> when i came out the day after the election and make it clear that republicans will put revenue on the table, i took a great risk. and then the white house spends three weeks trying to develop a proposal. and they send one up here that calls for $1.6 trillion in...
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it's interesting to hear boehner saying, listen, nowhere, period. nowhere. which sounded very final and very bloomy. earlier when i was talking to senator blumenthal, he was like, i'm optimistic. i'm kind of hopeful. what do you think? >> i think first of all the timing of this probably couldn't be worse for negotiation purposes from our perspective to some degree. right before the holidays, which is a tough time for politicians anyway. in some terms we feel like it's light years between now and the new year. it's really not. it's right around the corner. lawmakers will continue to feel a lot more pressure between now and then to get something done. at the same time we're coming off the heels of this election. to some degree we're kind of trying to find our negotiating legs, if you will. nonetheless, it's critically important. i think it's critically important we say to the american people that we get the fiscal house in order. >> how do you do that in realistically 29 days? what do you say? >> let me go back to this. no one should be surprised we are in the
it's interesting to hear boehner saying, listen, nowhere, period. nowhere. which sounded very final and very bloomy. earlier when i was talking to senator blumenthal, he was like, i'm optimistic. i'm kind of hopeful. what do you think? >> i think first of all the timing of this probably couldn't be worse for negotiation purposes from our perspective to some degree. right before the holidays, which is a tough time for politicians anyway. in some terms we feel like it's light years between...
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speaker boehner threw cold water on that. what's your reaction? >> they are talking about a bill that already passed the senate. i voted against it. i don't think we should raise taxes on anybody at times like these. with unemployment so high, people looking for work -- >> no giving on that point? >> i don't think we should raise taxes on anybody. >> you and ambassador susan rice was on capitol hill. met with senators. didn't appear to go as well as she hoped. you have been on the record saying you would oppose her nomination as secretary of state. do you still feel that way? >> do i. i believe she disqualified herself as secretary of state by going on five sunday shows and giving bad information to the american people. as secretary of state we need somebody who has sound judgment -- she just parroted information she was given. a secretary of state needs to have sound judgment, ask tough questions, and should not be willing to just read talking points. you need to be thoughtful and ask the tough questions before speaking. she just didn't do that.
speaker boehner threw cold water on that. what's your reaction? >> they are talking about a bill that already passed the senate. i voted against it. i don't think we should raise taxes on anybody at times like these. with unemployment so high, people looking for work -- >> no giving on that point? >> i don't think we should raise taxes on anybody. >> you and ambassador susan rice was on capitol hill. met with senators. didn't appear to go as well as she hoped. you have...